Top 3 Challenges in the Telecommunications industry
As we move forward from the coronavirus, consumer demands have changed forever in all industries.
These changes influenced the growth of the telecoms industry by increasing voice traffic, pushing greater demand for video, and placing additional pressure on bandwidth demands.
Therefore, it is clear that clients expect self-service and instant communication more than ever. It’s a point of importance. Let’s look at some of these problems in more detail.
Increased Variety of Services
- The first challenge that telecom companies deal with is increasing the variety of services from companies and decreasing profit margins. Companies must maintain flexibility and create strong cross-functional interfaces to face this problem.
Complexity of Customer Care
- The second one is the complexity of customer care and billing that comes from increasing the variety of products and subscribers. Therefore, the cost of handling these operations requires resources and different tools, thus, increasing the financial overhead.
Moreover, consumers want everything to be super quick. They aren’t ready to tolerate any delays in the operational processes, especially not while facing a pandemic and global quarantine. It’s time to be more resolutive as ever.
Growth of IoT
- The third thing we want to pay attention to is the impact of the Internet of Things on growth in connected devices. In 2022, the market for the Internet of Things is expected to grow by 18% to 14.4 billion active connections. This growth will push the data to be handled by networks to zettabytes per year.
Given these challenges, telecom companies should take a more informed approach to simplification of business processes which can help them ride the digital transformation wave.
Do you want to learn more about it and discuss your digital transformation priorities? Book a free consultation call with us. https://calendly.com/saeidmakhmali/30minute